Glaxo Smith Kline Consumer (India) Blog

Saturday, February 25, 2006

History of the Company

1948

- Beecham (India) Pvt. Ltd., was incorporated at Mumbai on 8th December, under the name Group Laboratories (India) Pvt. Ltd., as a wholly owned subsidiary of Harold F. Ritchie (India) Ltd., which in turn was a wholly owned subsidiary of Beecham Group, Ltd., U.K. The Company manufacture dairy and milk products, toiletries and drugs and pharmaceuticals. The dairy products, are marketed under the name "Horlicks", "Elaichi Horlicks", "Horlicks Tablets", Boost and Gopika ghee.

- The Smithkline Beecham Consumer Healthcare Ltd. was Incorporated on 30th October, as a private limited company under the name Hindustan Milkfood Manufacturers, Pvt. Ltd. It became a public limited company on 28th March 1961. It was promoted by Horlicks, Ltd., U.K., mainly to manufacture and sell malted milk food under the brand name "Horlicks" which had hitherto been imported.

- The Company was incorporated in 1958 with a paid-up capital of Rs. 12 lakhs.

1960

- The name of Group Laboratories (India) Pvt. Ltd., was changed to Beecham (India) Pvt. Ltd. with effect from 2nd January.

1963

- The capital was increased by Rs 2 lakhs, comprising of 20,000 shares of Rs 10 each, through private placements to Indian residents/financial institutions out of which 2,500 shares of Rs 10 each were issued as rights at par and 5,000 shares of Rs 10 each were issued at a premium of Rs 25 per share. The details of the mode of issue of the remaining 12,500 shares is not known.

1967

- On 15th March, 2,10,000 bonus shares were issued in the proportion 3:2.

1968

- On 6th March, 3,00,000 bonus shares were issued in the proportion 6:7. On 30th March, 96,174 shares were issued at a premium of Rs 7.50 each through private placement to Indian residents/financial institutions.

1969

- The worldwide interests of Horlicks, Ltd., U.K., were purchased by Beecham Group, Ltd., U.K. The subsequent association with Beecham Group, Ltd., U.K. provided access to additional international marketing expertise, worldwide experience and greater technological know-how and was instrumental in strengthening the development programme of the Company.

1972

- Details upto 31.3.1972 are given under "Equity Capital History" on 24-11-1972, 6,17,557 Bonus shares issued in prop. 9:10, in the earlier years, 87,500 shares of Rs 10 each issued to Horlicks Ltd. without payment in cash.

1977

- Beecham (India) Pvt. Ltd., a wholly owned subsidiary of Beecham Group, Ltd., U.K., was merged with the Company effective from 1st April, the approval for this having been received on 1st January 1979.

- 2,36,289 shares issued at a premium of Rs 20 per share: 59,072 shares each to LIC and UTI; 47,257 shares to GIC; 47,258 shares to Indian shareholders, 11,814 shares to employees of the Company and 11,816 shares to directors, etc.

1978

- The Indian participation in the Company had been progressively increased and stood at 60% before the offer for sales of shares during November.

- During November, Horlicks, Ltd., U.K. offered for sale to resident Indian nationals 6,61,608 equity shares of Rs 10 each at a premium of Rs 7.50 each out of its holding in the Company in the following manner: (i) 30,000 shares to the employees of the Company; (ii) 1,01,062 shares to members of the Company not being holders of more than 10,000 shares as on 15th June, in the proportion 1:4 (fractions being rounded up); (iii) 30,456 shares to be allotted at the discretion of the Company's directors on a rational and equitable basis and (iv) 5,00,000 shares to the public.

- After the offer for sale of shares to resident Indian nationals during November, the non-resident holding in the Company was reduced to 40%.

- 16,54,020 Bonus shares issued in prop. 1:1 on 12.6.1978, 1,29,886 shares of Rs 10 each issued to Beecham Group, Ltd. U.K. on amalgamation of Beecham (India) Pvt. Ltd. with the Company in the prop. 21.65 shares of Rs 10 each of the Company to every shares of Rs 100 each held in Beecham (India) Pvt. Ltd.

-SBCH entered the capital market in 1978 with an offer for sale of equity. It manufactures and sells malted milk food products under the Horlicks brand name. Their product range includes Eno, Brylcream, Horlicks, Boost, Gopika ghee, etc.

1979

- The name of the Company was changed from Hindustan Milkfood Manufacturers, Ltd., to HMM Ltd., with effect from 1st March. 1981

- 17,18,963 Bonus Equity shares issued in prop. 1:2.

1984

- 19,33,833 bonus equity shares issued in prop. 3:8.

1987

- 70,90,722 bonus equity shares issued in prop. 1:1.

1991

- Effective 16th September, the name was again changed to Smithkline Beecham Consumer Brands Ltd.

1994

- The Company expanded its production capacity at Nabha.

- Once again, the name of the Company changed from Smithkline Beeacham Consumer Brands Ltd. to Smithkline Beecham Consumer Healthcare Ltd.

1995

- The Company added one more line of production utilising the existing technology.

- Infanrix-B, a single of this combination vaccine would protect children against four major infectious diseases - diphtheria, tetanus, acellular pertussis and hepatitis-B.

- The Government has shot down SmithKline Beecham's plans of manufacturing and marketing pharmaceutical and over-the-counter (OTC) products through its already set up wholly-owned subsidiary in the country.

- The pharma major, SmithKline Beecham (SKB), has developed a two-in-one hepatitis vaccine, completed evaluation trials and claims that it has yielded good results in providing protective cover.

- SBCH will be setting up the new plant on a 140-acre greenfield plot provided by SmithKline Beecham Asian Private Limited (SBAP), which has entered into a `synergistic commercial alliance' with the multinational's consumer healthcare company in India.

- International Healthcare major SmithKline Beecham (SB), is all set to launch a cluster of vaccines in India in 1998-99. These include a hepatitis - A vaccine, a two in one hepatitis A & B vaccine and another targeted at preventing chicken pox.

- SBCH will be setting up the new plant on a 140-acre greenfield plot provided by SmithKline Beecham Asian Private Limited (SBAP), which has entered into a `synergistic commercial alliance' with the multinational's consumer healthcare company in India.

- SmithKline Beecham Consumer Healthcare Ltd, has set a second interim dividend for 1998 at Rs 2.60 per equity share, the Mumbai Stock Exchange announced.

-Ribena was launched in 1998 but was subsequently withdrawn last year.

1999

- SmithKline Beecham Consumer Healthcare Ltd (SBCH), the nutritional healthcare leader is setting up a state of the art spray drying malted food plant at Sonepat in Haryana.

- SmithKline has launched Junior Horlicks for young and flavour variants like elaichi and chocolate. It has also recently launched Amla-based Vitamin C drink Ribena from its parent's stable.

- Beecham (India) Pvt Ltd, a wholly owned subsidiary of Beecham Group Ltd (UK) was merged with the company with effective from 1st April,1977.

- The name of the company was changed from Hindustan Milkfood Manufacturers Ltd to HMM Ltd with effect from 1st March, 1979. During 1994, once again, the name of the company changed to the present one, SmithKline Beecham Consumer Healthcare. After a major development the company has decided to set a new 21,000-tonne Horlicks plant which likely to be commissioned in 2002.

- The Company enter the analgesics segment by piggybacking on Crocin, a paracetamol-based formulation, commonly marketed as an antipyretic.

- In the oral care category, the company is marketing two additional toothbrushes-- Interdental and V-cut --- under the Aquafresh brand. In Sep. 2000, the `Aquafresh Magic Box' promotion, the first-ever scratch-and-win campaign in the toothpaste category was launched bySBCH.

-In Dec 2000, the parent company -- Smithkline Beecham Plc -- merged with Glaxo Wellcome Plc to form GlaxoSmithkline, which holds 40% of the equity capital of SBCH.

2002

- Smithkline Beecham appoints Mr Ian McPherson as a Director.

- The SmithKline Beecham Consumer Healthcare (SKBCH) has undergone a change of name to GlaxoSmithkline Beecham Consumer Healthcare, by additional of Glaxo tag to itself.

-The Board of Directors of Glaxo SmithKline Consumer Healthcare Ltd at its meeting held on August 29, 2002 have resolved for closure of operation of the company's undertaking situated at Kolkatta where packing operations of the company is being carried out with effect from the close of working hours on August 31, 2002.

-GlaxoSmithKline Consumer Healthcare Ltd has informed BSE that at the meeting of the Board of Directors held on October 25, 2002 has taken on record the following changes:

1. Mr Colin Handcock has ceased to be the Nominee Director of the Company under Article 97A of the Articles of Association of the Company. Consequently Mr P Dwarakanath also ceases to be Alternate Directors to Mr Colin Handcock, Mr Nick Massey has been nominated by Horlicks Ltd as a Director under Article 97A of the Articles of Association of the Company

2. Mr Nick Massey has been appointed as the Managing Director of the Company effective November 01, 2002 in place of Mr S J Scarff who ceases to be the Managing Director of the Company w.e.f. November 01, 2002.

3. Mr S J Scarff has been appointed as the Non executive Chairman of the Board of Directors of the Company from that date.

4. Mr Sangita Reddy has tendered her resignation w.ef. November 01, 2002 to the Board of Directors and in her place Mr Colin Handcock has been appointed as a Director in casual vacancy w.e.f. November 01, 2002. Mr P Dwarakanath has been appointed as an Alternate Director of Mr Colin Handcock at the above mentioned Board Meeting

5. Mrs Sangita Reddy who was a member of the Investor Greivance Committee has ceased to be member due to her resignation and in her place Mr P S Mukherjee, Wholetime Director of the Company has been appointed as a member of the Investor Greivance Committee w.e.f. November 01, 2002.

2003

-Mr.V.Thyagarajan and Mr.R Subbarayan ceased to be the Director and Alternate Director on the Board of the Company.

-GSK is phasing out its premium toothpaste brand Aquafresh from the Indian Market.

-GSK Ltd has informed that Mr. Abhinandan Chatterjee, Director of Finance and Information Technology has desired to take early retirement from the services of the company.

-Horlicks, the flagship brand of GlaxoSmithKline which slipped from 10th position to 16th position in the brand equity survey of India has been relaunched by the company.

-Mr. Gautam K Chakraborty has been appointed as a wholetime director in the casual vacancy created by the resignation of Mr. A Chatterjee.

-Qualigens Fine Chemicals (QFC), a division of GlaxoSmithKline (GSK) India, that manufactures and markets research and laboratory chemicals and lab-ware has inked a marketing agreement with Honeywell Burdick & Jackson